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EconomyThu, 11 Nov, 21

Housing Et al., Push Overall Inflation Up Again

Housing Et al., Push Overall Inflation Up Again

Housing, Water, Electricity, and Gas inflation has once again driven overall inflation in October up to 11.0 percent according the Ghana Statistical Service (GSS). The Housing et. al., division in September recorded 18.7 percent from the 15.2 percent in August but has jumped marginally to 20.6 percent in October making it the division within the inflationary basket with the highest inflation rate.

This has moved the overall inflation by 40 basis points from the September inflation of 10.6 percent. The Transport division came second with an inflationary rate of 14.9 percent which is also an upward figure from last month’s 13.6 percent.

“The national year-on-year inflation rate was 11.0% in October 2021, which is 0.4 percentage point higher than the 10.6% recorded in September 2021. Month-on-month inflation between September and October 2021 was 0.6% (same as what was recorded in September 2021). ’Housing, Water, Electricity, Gas and other Fuels’ (20.6%) recorded the highest inflation,” the GSS said.

On regional basis, the overall year-on-year inflation ranged from 1.9 percent in the Eastern Region to 19.2 percent in the Upper West Region. Upper East Region recorded 1.8 percent inflation which is the highest on month-on-month basis, while the Greater Accra, Upper West and Eastern regions recorded negative month-on-month inflation rates for October.

Food and Non-Alcoholic Beverages inflation was 11.0 percent while Non-Food inflation stood at 11.0 percent.

 

Source: Mohammed bomanso Issah (Real Estate Times Africa)

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